4th Sep 2015 05:41
LONDON (Alliance News) - GVC Holdings PLC is set to beat 888 Holdings PLC in the takeover battle the pair have waged over Bwin.Party Digital Entertainment PLC, The Daily Telegraph reported.
The Telegraph said it understands that following a meeting held on Thursday night the board of Bwin.Party has decided to switch its recommendation from its agreed bid with 888 to the new takeover offer made by GVC, which values the company at around GBP1.1 billion.
GVC and 888 have been locked in a battle to acquire Bwin.Party since May, with 888 having agreed a deal to acquire the gaming company in July, but GVC refusing to give up the ghost. Since, Bwin.Party and 888 reached their deal, GVC has made two more bids in addition to the initial one it had spurned, all of which have valued Bwin.Party at more than the 888 deal.
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/11843060/GVC-beats-888-in-1bn-battle-for-gambling-rival-Bwin.html
By Sam Unsted; [email protected]; @SamUAtAlliance
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